All Posts
yesterday
The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO. You do not need to take any extra steps to enter it. (And…the new...
See more...
The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO. You do not need to take any extra steps to enter it. (And…the new senior deduction has nothing to do with whether you are getting Social Security)
2025 STANDARD DEDUCTION AMOUNTS
SINGLE $15,750 (65 or older/legally blind + $2000)
MARRIED FILING SEPARATELY $15,750 (65 or older/legally blind +1600)
MARRIED FILING JOINTLY $31,500 (65 or older/legally blind + $1600)
HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)
For 2025 through 2028 there is an extra deduction amount of up to $6000 per individual 65 or older filing Single, MFJ, or HOH which is phased out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers.
The $6,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. Turbo Tax automatically includes it.
IRS Schedule 1-A https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf
yesterday
Line 3 of the SS Benefits Worksheet is including excludable interest on US I Bonds (form 8815). The interest excluded is not shown on 1040 Line 2a, but is added in via an internal calculation error,...
See more...
Line 3 of the SS Benefits Worksheet is including excludable interest on US I Bonds (form 8815). The interest excluded is not shown on 1040 Line 2a, but is added in via an internal calculation error, The excludable interest that is claimed on 8815 is not to be included included in 2a because it is removed from income. I have completed form 8815 and it shows the excludable interest on the savings bonds, Line 2a on the 1040 form correctly does not show that interest. However, the social security worksheet is including it which results in a total on line 3 of the worksheet that does not match the total if you add all the corresponing lines on form 1040. (1z, 2a,2b,3b,4b,5b,7 and 😎
yesterday
Since you are in the military, you can use your home of record. Guam does not have a general sales tax.
yesterday
my w2s show a Box 12 code of TP
Topics:
yesterday
The online chat I had did not help.
yesterday
This deduction was created in the 2025 federal tax bill.
Topics:
yesterday
Did that work. I'm having the same problem
yesterday
Basic Version: Basic Version Deluxe Version: Deluxe Version
yesterday
When will form 8606 for tax year 2025 be updated and available? I was told before 1/23, but I see no software updates today. If this doesn't get taken care of very soon it will hold me up from fili...
See more...
When will form 8606 for tax year 2025 be updated and available? I was told before 1/23, but I see no software updates today. If this doesn't get taken care of very soon it will hold me up from filing my taxes on Monday 1/26.
yesterday
How to Contact Phone Support for TurboTax - Click on that link to speak to someone.
yesterday
Any answer currently in the same situation
yesterday
Same issue please give me an answer as this is causing a lot of anxiety
yesterday
TurboTax is currently asking for Military Retirement Income for the Uniformed Service Retirement exclusion and limiting the total exclusion to lower of qualified income or $20,000. There are two key...
See more...
TurboTax is currently asking for Military Retirement Income for the Uniformed Service Retirement exclusion and limiting the total exclusion to lower of qualified income or $20,000. There are two key issues with this: 1) The Uniformed Service Retirement exclusion, under CA Tax Code Section 17132.9 includes uniformed services that are not military, such as commissioned corps of the United State Public Health Service and the National Oceanic and Atmospheric Administration Commissioned Office Corps. The exclusion is for Uniformed Services and not limited to Military. 2) The exclusions under 17132.9 (Uniformed Services) and 17132.10 (Department of Defense Survivor Benefit Plan) are separate exclusion available to the taxpayer. They are limited by exclusion and taxpayer, not return -- see CA Sch CA (540) Instructions and the code sections. Thus, a Taxpayer can have both a Uniformed Services retirement exclusion (limited to $20k) and DOD Survivor Benefit Plan exclusion (limited to $20k). In that case the taxpayer would need two separate entries for each exclusion. For a married couple, it could be as high as four exclusions, with each being retired Uniformed Service members and getting annuities from someone else's service under a DOD Survivor Benefit Plan. Currently, Tubo Tax is combining all of these and limiting them to $20k (at least for single return, not sure if joint return is allowing more).
Topics:
yesterday
You can use a "paid upgrade" to Live Assisted Premium if you want one on one help. It is not free.
yesterday
My apologies! The NY is not like federal but NY has your original and only wants the amended form IT-201-X. NY Change or amend a filed return - Tax.NY.gov states:
Submit all the forms relevant to t...
See more...
My apologies! The NY is not like federal but NY has your original and only wants the amended form IT-201-X. NY Change or amend a filed return - Tax.NY.gov states:
Submit all the forms relevant to the information in your amended return (even if you already submitted these forms with your original return), such as:
forms for any credits you are claiming or amending,
forms you submitted as attachments to your original return that are still applicable (for example, IT-196, IT-227, IT-201-ATT, or IT-203-ATT), and
all your wage and tax statements, such as Form IT-2.
Do not submit a copy of your original Form IT-201, IT-203, or IT-195.
yesterday
1 Cheer
In reading the text at the bottom (see below), it appears that most qualified plans and IRAs qualify for the Oklahoma Retirement Exclusion, See the notes for A-6 on page 17 here.
So this entry ...
See more...
In reading the text at the bottom (see below), it appears that most qualified plans and IRAs qualify for the Oklahoma Retirement Exclusion, See the notes for A-6 on page 17 here.
So this entry is more for the exception than the rule.
So tell us, What type of distribution is this? That is, from where does this 1099-R come?
Schedule 511-A Instructions for retirement distributions eligible for exclusion up to $10,000 from Oklahoma income tax.
The retirement benefits must be received from the following and satisfy the requirements of the IRC:
• An employee pension benefit plan under IRC Sec. 401;
• An eligible deferred compensation plan under IRC Sec. 457;
• An individual retirement account, annuity or trust or simplified employee pension under IRC Sec. 408;
• An employee annuity under IRC Sec. 403 (a) or (b), United States Retirement Bonds under IRC Sec. 86; or
• Lump-sum distributions from a retirement plan under IRC Sec. 402 (e).
yesterday
No one can see your screen or your tax return. Post clearly worded specific questions so someone will know how to help.
yesterday
It says just says "Premium". Doesn't qualify it as Live or Do It Yourself.
yesterday
Form 8606 Update: I was told it would be ready today, 1/23, but it is not. I can get the form from the IRS website, so why can't TT upload it? When will the update be ready?
yesterday
HOW CAN I DOWNGRADE TO A LOWER VERSION
https://ttlc.intuit.com/turbotax-support/en-us/help-article/change-service-level/downgrade-lower-priced-version-turbotax-online/L2IDaMvkt_US_en_US?uid=m6ilzady